Muscat: Investments at Sohar Port and Freezone have reached a total of $30 billion, with over $4 billion in new projects anticipated for 2024 alone. Significant agreements signed last year include a $1.35 billion polysilicon production facility, the largest in the Middle East, a $1.6 billion LNG bunkering project powered by solar energy, and a $600 million initiative to establish Oman’s first iron ore concentration plant.
These initiatives underscore Sohar Port’s commitment to fostering innovation, renewable energy, and industrial growth.
In addition, Sohar Port and Freezone have shown remarkable resilience and expansion, recording over 3,000 vessel calls in 2024. General cargo throughput surged by 77% compared to the previous year, while container volumes increased by 15%, and ship-to-ship operations rose by 19%, reflecting outstanding operational performance.
Sohar Freezone also achieved notable milestones, with land occupancy reaching 85%, indicating strong demand from both current and potential tenants.
These developments were shared during the annual Business Reception themed “Connecting Commerce, Creating Opportunities.” The event emphasized the port’s pivotal role in Oman’s economic development, directly supporting the country’s diversification objectives under Oman Vision 2040.
In response to these achievements, Sohar Port’s CEO Emile Hoogsteden remarked: "Sohar Port and Freezone has emerged as a catalyst for Oman’s economic transformation and a benchmark for innovation and sustainability. As we commemorate two decades of progress, we take pride in the integrated industrial and logistics ecosystem that the port has cultivated, attracting forward-thinking investments and enhancing global competitiveness.”
The strategic expansion of the Freezone was highlighted by Acting CEO Mohammed Al Shizawi, who remarked that "Sohar Freezone has positioned itself as a vital facilitator for businesses aiming to succeed in a rapidly evolving and interconnected landscape. In 2024, we finalized nine agreements encompassing 130 hectares of land, attracting $1.8 billion in investments, which underscores the robust demand and confidence in our ecosystem."
He continued, "Our commitment to enhancing infrastructure, technology, and incentives empowers all tenants, both new and established, to realize their full potential while playing a significant role in Oman’s economic progress. The high demand for land and facilities reflects the trust that businesses have in Sohar Freezone as a center for innovation and growth."
